ADDLESHAW GODDARD MIDDLE EAST ADVISES DEWA
International law firm Addleshaw Goddard (AG) has advised the Dubai Electricity and Water Authority (DEWA) on reaching commercial close on the 180MIGD Hassyan Seawater Reverse Osmosis Project with its successful bidder, Saudi Arabia’s ACWA Power Company (ACWA).
On Tuesday 03 October 2023, DEWA and ACWA signed the main agreements for the project to reach commercial close on one of the world’s largest seawater desalination projects, which will increase Dubai’s installed water desalination capacity to 670MIGD upon its completion in February 2027. The Project is part of the Dubai Clean Energy Strategy 2050, with DEWA announcing it as the world’s largest solar powered* desalination plant. DEWA also achieved a world record levelized cost of water (LCOW) of 0.36536 USD/m³.
Commenting on the achievement, Alexander Sarac, Infrastructure Projects and Energy Partner for Addleshaw Goddard Middle East said: “We wish to congratulate His Excellency, Saeed Mohammed Al Tayer, MD & CEO of DEWA, and the entire DEWA team for having reached commercial close on this significant project. AG was honoured and pleased to act as legal advisor to DEWA on this project, together with the excellent teams of Deloitte and WSP Middle East Limited, who played a fantastic role in getting it into the market and reaching commercial close in such a short timeframe. We thank the project teams of Deloitte and WSP for their excellent cooperation and results-focused approach in delivering this important milestone for DEWA.”
“We also wish to congratulate the successful ACWA team, including Mr. Mohammad Abunayyan, Founder and Chairman of ACWA, as well ACWA’s technical, financial and legal experts, for their successful bid and extremely professional conduct during the negotiations,” he added.
Commercial close was reached in less than 10 months from the release of the request for proposal to the market. The efficiency of the process is due to the excellent leadership of DEWA’s project team and underscores that DEWA has one of the most capable teams for power, water and infrastructure project development in the region and globally. The project furthers the impressive growth of the Emirate of Dubai and its continued ambition to provide globally leading infrastructure services for its citizens and residents.
AG acted as legal advisor to DEWA on the project, together with Deloitte as financial advisors and WSP Middle East’s Dubai Branch as technical advisor. The AG team was led by Dubai-based partner Alexander Sarac, supported by partner Robin Hickman, managing associate Philip Chalmers and associate Ryan Ogg. The Deloitte team was led by Vishal Rander, supported by Sudarshan TM, Anurav Jain and Maha Kabtni. The WSP team was led by Mr. Ashwani Sachar, supported by Mr. Kumar Sandeep and Ms. Swati Mishra.
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